NMI (NASDAQ:NMIH) Lowered to Market Perform Rating by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods cut shares of NMI (NASDAQ:NMIH - Free Report) from an outperform rating to a market perform rating in a research note released on Monday, MarketBeat reports. The firm currently has $43.00 price target on the financial services provider's stock, up from their previous price target of $42.00.

A number of other equities research analysts have also recently weighed in on the company. Wall Street Zen upgraded NMI from a "hold" rating to a "buy" rating in a research note on Monday, May 5th. Compass Point reiterated a "buy" rating and set a $37.00 target price (up from $34.00) on shares of NMI in a research report on Friday, May 23rd. Finally, JPMorgan Chase & Co. lowered their target price on NMI from $42.00 to $41.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, NMI has a consensus rating of "Moderate Buy" and an average price target of $42.57.

NMI Stock Down 0.5%

NMIH stock traded down $0.22 during trading on Monday, reaching $40.97. 467,325 shares of the company traded hands, compared to its average volume of 557,193. NMI has a 12 month low of $31.90 and a 12 month high of $43.20. The business has a 50 day simple moving average of $39.62 and a 200 day simple moving average of $37.14. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of 8.85, a price-to-earnings-growth ratio of 1.39 and a beta of 0.55. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.74 and a current ratio of 0.74.

NMI (NASDAQ:NMIH - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.18. The business had revenue of $173.25 million during the quarter, compared to analysts' expectations of $169.04 million. NMI had a return on equity of 17.27% and a net margin of 55.93%. The business's revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.08 earnings per share. On average, equities research analysts anticipate that NMI will post 4.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other NMI news, insider William J. Leatherberry sold 13,111 shares of the stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $35.56, for a total value of $466,227.16. Following the completion of the sale, the insider owned 163,796 shares in the company, valued at approximately $5,824,585.76. This trade represents a 7.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael Curry Montgomery sold 1,875 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $38.05, for a total transaction of $71,343.75. Following the completion of the transaction, the director directly owned 66,068 shares of the company's stock, valued at approximately $2,513,887.40. This trade represents a 2.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,697 shares of company stock valued at $4,210,337 over the last three months. 3.00% of the stock is owned by corporate insiders.

Institutional Trading of NMI

Several large investors have recently modified their holdings of the business. Xponance Inc. raised its holdings in NMI by 5.0% in the 1st quarter. Xponance Inc. now owns 5,917 shares of the financial services provider's stock worth $213,000 after acquiring an additional 281 shares during the last quarter. Covestor Ltd raised its stake in shares of NMI by 15.7% during the first quarter. Covestor Ltd now owns 2,190 shares of the financial services provider's stock valued at $79,000 after acquiring an additional 297 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of NMI by 5.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,051 shares of the financial services provider's stock valued at $222,000 after acquiring an additional 325 shares in the last quarter. Cetera Investment Advisers raised its stake in NMI by 5.7% in the first quarter. Cetera Investment Advisers now owns 6,347 shares of the financial services provider's stock worth $229,000 after buying an additional 341 shares in the last quarter. Finally, Hohimer Wealth Management LLC grew its holdings in NMI by 5.6% in the first quarter. Hohimer Wealth Management LLC now owns 6,493 shares of the financial services provider's stock worth $234,000 after purchasing an additional 344 shares during the last quarter. 94.12% of the stock is owned by institutional investors.

NMI Company Profile

NMI Holdings, Inc provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance services, such as primary and pool insurance; and outsourced loan review services to mortgage loan originators. It serves national and regional mortgage banks, money center banks, credit unions, community banks, builder-owned mortgage lenders, internet-sourced lenders, and other non-bank lenders.